19

On January 1, 2017, Zade Manufacturing Corporation purchased a machine for $41,000,000. Zades management expects to use the machine for 33,000 hours over the next six years. The estimated residual value of the machine at the end of the sixth year is $44,000. The machine was used for 3,700 hours in 2017 and 5,900 hours in 2018. What is the depreciation expense for 2017 if the corporation uses the units - of - production method of depreciation? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)